Mortgage Market Update

My Mortgage Company

Lock It Mortgage

Tuesday, October 20, 2026

Picking the right loan type matters

Every week I work with people who've chosen a mortgage program without fully understanding how it works. It's one of the biggest financial decisions you'll make—and it deserves a closer look.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

Source: Optimal Blue daily mortgage indices via FRED

Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.

Loan Programs

Why your loan type matters more than you think

Not all mortgages are created equal. The program you choose—whether fixed-rate, adjustable, FHA, VA, or conventional—shapes your payment, flexibility, and long-term costs in ways that go way beyond the interest rate itself. Each has different rules around down payments, credit requirements, and what happens to your payment over time. A program that works perfectly for one person might not be right for another. The best choice depends on your situation: how long you plan to stay, your comfort with payment changes, what you have available to put down, and your financial goals. I'd love to walk you through which programs might fit your picture and why.

Let's talk about which loan program makes sense for your situation.

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Tips for Homeowners

Year-End Tax & Mortgage Planning

1.	Consider making your January mortgage payment in December to get an extra month of deductible interest in the current tax year (consult your tax advisor first).

2.	If you plan to sell next year, now is a good time to document improvements — receipts and records add to your cost basis and reduce taxable capital gain at sale.

3.	Review your W-4 withholding if you bought a home this year — your mortgage interest deduction may mean you're having too much withheld from each paycheck.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

My Mortgage Company

Lock It Mortgage

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